MongoDB (NASDAQ:MDB) Hits New 1-Year Low Following Analyst Downgrade

MongoDB, Inc. (NASDAQ:MDB)’s stock price reached a new 52-week low during trading on Monday after Truist Financial lowered their price target on the stock from $300.00 to $275.00. Truist Financial currently has a buy rating on the stock. MongoDB traded as low as $171.21 and last traded at $174.84, with a volume of 155238 shares traded. The stock had previously closed at $178.03.

Several other brokerages also recently commented on MDB. JMP Securities reissued a “market outperform” rating and issued a $380.00 price objective on shares of MongoDB in a research note on Wednesday, December 11th. Canaccord Genuity Group dropped their price objective on MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Stifel Nicolaus decreased their price target on MongoDB from $425.00 to $340.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. KeyCorp downgraded MongoDB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Needham & Company LLC lowered their target price on MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $319.87.

Insiders Place Their Bets

In other news, insider Cedric Pech sold 287 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael Lawrence Gordon sold 1,245 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $291,442.05. Following the completion of the transaction, the chief financial officer now directly owns 79,062 shares in the company, valued at approximately $18,507,623.58. This represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,139 shares of company stock valued at $11,328,869. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in MongoDB in the 4th quarter worth approximately $29,000. Hilltop National Bank increased its stake in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. NCP Inc. bought a new stake in shares of MongoDB during the 4th quarter valued at $35,000. Continuum Advisory LLC lifted its stake in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in MongoDB by 1,100.0% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after buying an additional 165 shares during the period. Institutional investors own 89.29% of the company’s stock.

MongoDB Trading Down 2.5 %

The stock has a 50 day simple moving average of $245.56 and a 200-day simple moving average of $265.95. The firm has a market cap of $14.09 billion, a PE ratio of -63.42 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter in the prior year, the business posted $0.86 EPS. On average, equities research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.